After months of negotiation, U.S. House Republicans introduced a bill that would help Puerto Rico deal with its $69 billion debt that has crippled its economy, setting rules that would allow it to seek bankruptcy protection.
The number of bankruptcy cases filed in Puerto Rico skyrocketed last month, when an astounding 19.5 percent more petitions for protection from creditors were filed at the local court, research firm Boletín de Puerto Rico revealed Monday.
Puerto Rico’s bankruptcy filings were up 13 percent in February, when 930 cases were submitted to the court, versus the same month in 2015, according to numbers released Thursday by research company Boletín de Puerto Rico.